June 25, 2019 / 6:07 PM / 2 months ago

UBS CEO welcomes cryptocurrency advances but urges caution

FILE PHOTO: Sergio Ermotti, CEO of UBS gestures during a panel discussion at the Swiss-American Chamber of Commerce in Zurich, Switzerland January 18, 2019. REUTERS/Arnd WIegmann

ZURICH (Reuters) - Switzerland should welcome innovation in cryptocurrencies but needs to be on guard against potential abuses by criminals, UBS Group Chief Executive Sergio Ermotti told a panel discussion on Tuesday.

“On balance (a) positive development, but watch out,” he said when asked how he felt about the new Swiss-based Libra cryptocurrency project led by Facebook.

Ermotti was speaking at a banking conference arranged by the Swiss Finance Institute.

Reporting by Michael Shields; Editing by Jan Harvey

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below